OIL AND GAS-

The Iraqi Cabinet gave the go-ahead to sign a contract with Sharjah-based Crescent Petroleum to secure 100 mn cubic feet of gas for its electric power plants, the Iraqi News Agency (INA) reports. The Iraqi Oil Ministry had awarded Crescent Petroleum the rights to two oil fields in2023.

HEALTHCARE-

PureHealth-backed Ardent expands its presence in the US: US hospital operator ArdentHealth Services, an affiliate of Abu Dhabi-based PureHealth, acquired 18 urgent care clinics in New Mexico and Oklahoma from NextCare Urgent Care, according to a press release. The move aims to boost capacity across Ardent’s network of clinics and emergency departments, the company’s CEO Marty Bonick said.

Remember- PureHealth acquired a 26.05% stake in Ardent for USD 500 mn back in September 2022.

CRYPTO-

UAE-based Web3 platform Klickl partnered with all-digital bank Zand to access its banking solutions, intending to facilitate business transactions and optimize financial management, Klickl said in a statement.

ICYMI- Zand received approval from Dubai’s Virtual Asset Regulatory Authority last month to offer digital asset custody services for corporate and institutional investors. Around the same time, Klickl raised USD 25 mn in an oversubscribed Series A funding round, valuing the company at USD 125 mn, with the fresh funds earmarked for global expansion, including the launch of Klickl Labs and Klickl Foundation.

FINETECH-

Global payment solutions provider Checkout.com will integrate its payment technology with homegrown fintech firm noqodi under a new partnership between the two, according to a statement from Checkout.com. The move aims to give noqodi users faster transaction times, expand payment options, and boost security.

INFRASTRUCTURE-

#1- Indian engineering firm Larsen & Toubro (L&T) will build a set of EHV substations in Dubai — including a 400/132kV facility — through its power transmission and distribution arm, it said in a press release. This comes as part of a new round of orders received for projects in Saudi Arabia, Kuwait, and India. L&T had secured contracts last year for two 400kV gas-insulated substations in Abu Dhabi and the sixth phase of Al Maktoum’s 1.8GW solar park.

#2- GBHIC x India’s RVNL to ramp up GCC civil infrastructure: India’s Rail Vikas Nigam (RVNL) inked an MoU with Dubai-based GBH International Contracting (GBHIC) to explore potential windows for collaboration in GCC countries’ civil infrastructure sectors, it said in a statement (pdf).

Tags: